The Racial Wealth Gap

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #17521
    Vitalogy
    Participant

    Here’s the uncomfortable truth out there about the racial wealth gap.

    http://money.cnn.com/2016/01/25/news/economy/racial-wealth-gap/index.html?iid=hp-stack-dom

    Wealth, or net worth, is the value of assets including your home, retirement savings and income minus the debt owed against those assets. According to federal data, the median wealth for white families in 2013 was around $141,900, compared to Hispanics at about $13,700 and blacks at about $11,000.

    “Everyone is pushing a boulder up a steep hill, but for African-American and Latino families it’s a much steeper climb,” said Jeremie Greer, the vice president of policy research at the Corporation for Enterprise Development, a Washington, D.C.-based economic think tank. Those families “are less financially secure than they’ve ever been,” he said.

    #17522
    Vitalogy
    Participant

    This is called generational wealth, as money and assets get passed down from generation to generation.

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.